Regency Centers acquires Chicago-area shopping center

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Glenview, Ill. Jacksonville, Fla.-based Regency Centers said it has closed on the acquisition of Glen Oak Plaza, a 62,443-sq.-ft. neighborhood shopping center located in Glenview, Ill., and anchored by Trader Joe’s and Walgreens.

Regency purchased the property on Sept. 1 for $18 million from the Adinamis family, a Chicago-area family real estate partnership.

Other tenants in the center include NorthShore University HealthSystem; FirstMerit Bank; Einstein Bros. Bagels; Starbucks; Boston Market; and a variety of retail, restaurants and service businesses.

The center is 97% leased.

Regency owns 16 other retail centers in the Chicago metro area, totaling more than 2.2 million sq. ft.